Stablecoin Banking Startup Kontigo to Repay Customers After Hack

Latin America-focused banking startup Kontigo plans to reimburse more than 1,000 customers after a hack that affected some $340,905 worth of their stablecoins, the company said in an X statement on Monday.

“We detected unauthorized access that affected funds of some users,” Kontigo said in an earlier post translated by Bloomberg. “Your funds are protected and any affected amounts will be reimbursed by Kontigo.”